In a letter to customers late Thursday, Nucor announced that effective with shipments February 10, 2012, the Raw Materials Surcharge on all concrete reinforcing products would reflect a $30/nt ($1.50 cwt. or $33/mt) decrease compared to the February 1, 2012 surcharge.
Furthermore, Nucor said it will increase the base price of rebar by $15/nt ($0.75 cwt. or $17/mt). The net effect of this move is that transaction pricing for rebar will decrease by $15/nt immediately.